US Regulators Propose Stablecoin Rules Requiring Issuer ID Checks but Allowing Anonymous Peer-to-Peer Transfers
By
Kyle Torpey
Summary
U.S. federal regulators (Federal Reserve and others) have released a proposal on stablecoin policy that requires issuers to perform bank-style identity checks on direct customers, but explicitly allows ordinary users to continue sending stablecoins peer-to-peer on secondary markets without personal information collection. This represents a less restrictive approach than many in the crypto industry anticipated.
Source
bskyUS Regulators Propose Stablecoin Rules Requiring Issuer ID Checks but Allowing Anonymous Peer-to-Peer Transfersgizmodo.comKey quotes
· 3 pulledFederal regulators in the United States have finally shown their hand on one of the biggest unanswered questions around stablecoin policy
The newly released proposal from the Federal Reserve and others would require stablecoin issuers to run bank-style identity checks on their direct customers
It also makes clear that ordinary users can keep sending stablecoins around on secondary markets in a peer-to-peer manner without the issuer having to collect any personal information about them
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